UK sells more of Lloyds bank stake, US$19.5bil raised so far

The bank was rescued during the 2007-9 financial crisis at a cost of 20.5 billion pounds, leaving taxpayers with a 43 percent stake. Britain's finance ministry began selling its stake in September 2013.

LONDON: Britain has cut its stake in Lloyds Banking Group  to below 16 percent, taking the total raised through the sale of the government's shares in the bank to more than 12.5 billion pounds (US$19.5 billion).